China

China General Nuclear Power Corp (CGNPC) raked in $600m on Monday from its third green bond sale, benefitting from investors’ eagerness for investment grade paper.

Impro Precision Industries has raised HK$999.9m ($127.94m) from its float on the Hong Kong Stock Exchange, pricing the offering near the middle of initial guidance.

Fosun International has raised a larger-than-expected $700m to help fund a tender offer that will close next week, while Kaisa Group Holdings was in and out of the market with a $500m tap of two existing bonds.

Local government financing vehicle (LGFV) Zhongyuan Yuzi Investment Holding Group Co priced a $500m deal that was nearly six times covered, a year after cancelling a planned issuance, thanks to a combination of prudent execution strategy as well as improved sentiment on the sector.

The Shanghai Stock Exchange (SSE) has published guidelines for IPOs on its new technology board, providing a detailed timeline for the process and the eventual listing of the shares.

In this round-up, the CBIRC head condemns US trade policy, China's premier Li Keqiang says country is open for business, the HKMA announces enhanced currency conversion arrangement under stock connect, and FTSE Russell officially includes China A-shares.

Nasdaq-listed 360 Finance has kicked off an up to $122.5m follow-on offering of new and existing American Depository Shares (ADS).

China Railway Construction Corp has priced an unusual $1bn subordinated perpetual bond, with more issuers expected to adopt a similar structure in the wake of new guidelines on accounting treatment for corporate perps.

Maybank completed its second Rmb2bn ($291.5m) Belt and Road Panda trade on Thursday, pricing both tranches at the bottom of the price range.

In this round-up, China’s holdings of US treasuries reached the lowest level in two years, the Ministry of Commerce (MoC) promised to unveil foreign investment negative lists in 10 days, and Bank of China (UK) can now provide clearing services in London.

In this round-up, US president Donald Trump and Chinese president Xi Jinping agreed to meet this month, the first active exchange-traded fund listed on the Hong Kong Stock Exchange (HKEX) and the volume of outstanding local government bonds rose again in May.

Chinese local government financing vehicles (LGFVs) and property developers took advantage of positive sentiment after dovish comments from the Federal Reserve to flood the offshore market with bonds.